Buying a Used Car Could Save You Money

If you haven’t been in the market for a new or used vehicle lately, you may not realize that car prices have increased substantially – as much as 50% over the past five years for some car manufacturers. That means a brand new car selling for $20,000 in 2019 may now be selling for $30,000 or more this summer.

 

The average price of a used car right now is just above $25,000. That’s a big difference when you’re talking about monthly payments. If you’re paying double for a car, your monthly payments can also be expected to double.

 

That’s especially true when car manufacturers’ interest rates on used cars are more than 9.00% APR. Our used vehicle rates start at 6.50% APR, which is a significant cost savings.

 

Check out this short video from one of our staff auto loan experts, who explains the vehicle market and how Kelly Community can help make your next used vehicle fit into your monthly budget.